Tufin (TUFN) Reports In-Line Q1 EPS, Revenues Miss; Offers 2Q & FY21 Revenues Outlook

Tufin (NYSE: TUFN) reported Q1 EPS of ($0.27), in-line with the analyst estimate of ($0.27). Revenue for the quarter came in at $21.4 million versus the consensus estimate of $22.82 million.

“We are pleased to deliver another quarter of year-over-year product revenue growth, with the subscription transition in the first quarter exceeding our expectations,” said Ruvi Kitov, Tufin’s CEO and Co-Founder. “We expanded our security policy management capabilities, with the announcement of the Tufin Orchestration Suite version R 21-1, and the new additions to the marketplace for vulnerability management and Cisco ACI automation.”

Kitov added, “We continue to work on our transformation and strive to improve execution and remain agile, to fully participate in the ongoing recovery and set the stage for long-term growth. Early indications give us confidence that our strategic direction and the effectiveness of our actions thus far in 2021 will drive long-term value for our stakeholders.”

GUIDANCE:

Tufin sees Q2 2021 revenue of $21-25 million, versus the consensus of $25.5 million.

Tufin sees FY2021 revenue of $105-113 million, versus the consensus of $109.73 million.

Business Outlook

Based on information available as of May 13, 2021, Tufin is issuing guidance as indicated below:

Second Quarter 2021:

• Total revenue between $21.0 and $25.0 million
• Non-GAAP operating loss between $12.7 and $9.3 million

Full Year 2021:

• Total revenue between $105.0 and $113.0 million
• Non-GAAP operating loss between $33.8 and $27.0 million

For earnings history and earnings-related data on Tufin (TUFN) click here.

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